Brian Tyler Cohen calls this news “breaking,” but it’s really not a surprise to hear that President Joe Biden is “looking at” different options to forgive some, if not all, federal student loan debt. As we reported before, MSNBC’s Mehdi Hasan took a look at the polls and found that Biden’s approval rating among the 18-30 set had dropped a whopping 25 points since his inauguration, and Biden needs those voters to turn out in 2022 and 2024. The solution, according to Hasan: “Biden needs to cancel student debt ASAP.” At least he was upfront about it: it’s not a moral or economics issue, it’s all about buying the votes of the 18-30 demographic.
BREAKING: President Biden is looking at different options to forgive most, if not all, federal student loan debt, per @CBSNews. The move could affect more than 43 million borrowers who hold more than $1.6 trillion in federal student loan debt.
— Brian Tyler Cohen (@briantylercohen) April 26, 2022
None of this makes sense until you realize that the entire Democratic Party is a giant pander to college educated young people, the only group in America that doesn't hate Biden's guts right now https://t.co/db5GkwrfS5
— Ben Shapiro (@benshapiro) April 27, 2022
What we have to do, Ben, is never allow it to be called “forgiveness.” The money has been spent. There is no erasing of debt – only transferring of it to others. And in this case, the “others” are very often LOWER wage earners. The most regressive thing I’ve ever heard https://t.co/Uy8Y4ho1T1
— David L. Bahnsen (@DavidBahnsen) April 27, 2022
Over half of student loan debt comes from graduate school and the highest-income households in America hold a vast majority of all student loan debt.
Forgiving it would be a welfare program for wealthy people paid for by middle/working class Americans.
— Greg Price (@greg_price11) April 27, 2022
We should instead do what @willchamberlain has always suggest and make the colleges themselves pay for it by seizing their endowments!
— Greg Price (@greg_price11) April 27, 2022
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As we reported back in 2020, Harvard applied for and was awarded $9 million as part of the federal government’s coronavirus relief package, despite the university having a $40 billion endowment.
I can't imagine what spurred Biden on to start talking about forgiving student loan debt… it's a mystery, really. pic.twitter.com/vTiNuEWGYr
— The Wokest Numbersmuncher (@NumbersMuncher) April 27, 2022
I'm genuinely wondering if the student loan relief proposal could backfire.
It is destined for a poor implementation, and I suspect it won't cover all students, leading to inevitable bitterness.
Not to mention those who sacrificed and paid their loans without government help.
— NYC Angry Mom (@angrybklynmom) April 27, 2022
If you're a party struggling to retain the votes of working class people without college degrees, it's a highly risky move to ask those people to subsidize the educations of people who mostly earn more than they do. https://t.co/V3ztG8tyRk
— Conor Friedersdorf (@conor64) April 27, 2022
I think the problem is the guys who put in my water heater haven’t worked hard enough to make life easy for the suburban girl with the Bolivian poetry degree https://t.co/kgjhiQ8hVk
— Kurt Schlichter (@KurtSchlichter) April 27, 2022
I suspect Biden is going to settle on a level of student loan relief that isn't big enough to make a meaningful difference in the lives of people who are really struggling with debt, but is still enough to damage his already perilous standing with working-class voters.
— Michael David Smith (@MichaelDavSmith) April 27, 2022
That sounds about right.
If student loan forgiveness ever comes, you can guarantee that it will be done in a janky, race-based, means-tested way.
— John Wolf (@ICBMinvestments) April 27, 2022
Expect to hear more about student loan forgiveness as we get closer to the midterms.
Related:
MSNBC’s Mehdi Hasan says President Biden needs to cancel student debt ASAP because elections are coming https://t.co/A5xzVt7DHq
— Twitchy Team (@TwitchyTeam) April 12, 2022
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